Navellier & Associates Inc Makes New $222,000 Investment in MasTec, Inc. (NYSE:MTZ)

Navellier & Associates Inc bought a new position in MasTec, Inc. (NYSE:MTZ) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,302 shares of the construction company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MTZ. NEXT Financial Group Inc grew its holdings in shares of MasTec by 137.2% during the 2nd quarter. NEXT Financial Group Inc now owns 3,465 shares of the construction company’s stock valued at $179,000 after purchasing an additional 2,004 shares during the last quarter. Falcon Point Capital LLC grew its holdings in shares of MasTec by 8.5% during the 2nd quarter. Falcon Point Capital LLC now owns 86,640 shares of the construction company’s stock valued at $4,465,000 after purchasing an additional 6,756 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in shares of MasTec by 2.7% during the 2nd quarter. Sheets Smith Wealth Management now owns 75,291 shares of the construction company’s stock valued at $3,880,000 after purchasing an additional 2,000 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in MasTec in the 2nd quarter worth $366,000. Finally, Tributary Capital Management LLC grew its holdings in MasTec by 4.3% in the 2nd quarter. Tributary Capital Management LLC now owns 39,000 shares of the construction company’s stock worth $2,010,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 85.33% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. ValuEngine lowered shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. UBS Group cut their price target on shares of Mylan to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, KeyCorp raised their price target on shares of PGT Innovations from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $60.44.

Shares of MasTec stock opened at $53.34 on Wednesday. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.47 and a beta of 1.48. MasTec, Inc. has a 12-month low of $37.24 and a 12-month high of $53.80. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.70 and a current ratio of 1.79. The stock has a fifty day moving average price of $50.40.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, May 2nd. The construction company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.19. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.43 billion. MasTec had a net margin of 3.93% and a return on equity of 21.31%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. As a group, sell-side analysts expect that MasTec, Inc. will post 4.4 earnings per share for the current year.

In other news, Director Robert J. Dwyer sold 10,000 shares of MasTec stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $51.66, for a total transaction of $516,600.00. Following the sale, the director now owns 23,587 shares of the company’s stock, valued at approximately $1,218,504.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.00% of the company’s stock.

MasTec Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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